MICROINSURANCE - BETWEEN THE SOCIAL AND THE ECONOMIC DIMENSION OF RISK MANAGEMENT

Karadjova, Vera and Dicevska, Snezana (2016) MICROINSURANCE - BETWEEN THE SOCIAL AND THE ECONOMIC DIMENSION OF RISK MANAGEMENT. DOI: 10.20544/HORIZONS.A.20.1.17.P35.

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Abstract

Risks are inevitable, objective category faced by all people and all business entities and they are widespread in all areas of human existence, regardless of the level of the human community development. Therefore, various strategies for risk management are developed, among which the insurance have one of the central positions. But, the demand for insurance services is largely determined by the legal framework regulating the insurance market (compulsory and optional insurance), the level of awareness for the need of buying insurance services (because it is usually about types of risks that the frequency of occurrence is not extremely expressed), and the level of the living standard, or the availability of insurance services for socially vulnerable categories of the population in a national economy. Uninsured risks, regardless of the type of risk in question, especially badly affect poorer categories of society which cannot cope with the catastrophic losses from negative shocks. The paper refers to the elaboration of the need for developing microinsurance services by comparative analysis of the coverage of these services in the countries in the world, analysis of the socially vulnerable strata of the population in Macedonia that could potentially be involved in the demand of these services and the microinsurance models that could be applied in countries that have not still developed this form of insurance. Key words: risk, insurance, microinsurance, living standard, socially vulnerable categories

Item Type: Article
Subjects: Scientific Fields (Frascati) > Social Sciences > Economics and Business
Divisions: Faculty of Tourism and Hospitality
Depositing User: Mr Bojan Sekulovski
Date Deposited: 06 Nov 2017 12:17
Last Modified: 06 Nov 2017 12:17
URI: http://eprints.uklo.edu.mk/id/eprint/913

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